Compare Littleton's Best Reverse Mortgages
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Littleton Reverse Mortgage Lenders
We are proud to be Colorado's #1 rated reverse mortgage lender by the BBB with a Perfect 5.0 stars and A+ review. All Reverse Mortgage® lends in 14 states states nationwide, including Littleton, CO. All Reverse began in 2004 and as the name implies, the only loan product that All Reverse Mortgage® originates is the residential reverse mortgage loan.
We offer reverse mortgages to Littleton homeowners and our staff has a combined lending experience exceeding 100 years with national mortgage banking experience on both coasts and points between. Due to this varied direct experience, All Reverse Mortgage® is well positioned to be able to assist borrowers with all specific needs associated with the reverse mortgage program.
Littleton Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Littleton (est)||Avg. Home Value|
HUD Approved Direct Lender
All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or "Heck-um"). The HECM is HUD's acronym for their reverse mortgage loan.
All Reverse Mortgage® originates in Littleton and closes both refinance loans, where borrowers already own their home and are looking to either pay off their existing loan and have no more monthly mortgage payment, utilize their equity for other purposes if they have no existing loan, or possibly a combination of both
About All Reverse Mortgage®
The owners and management of All Reverse Mortgage® were part of the team that wrote and sold the first fixed-rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values, so not all borrowers are better served with the jumbo programs.
Only a seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool and many are now seeking the reverse mortgage to augment their retirement plans and not so much as a mortgage of last resort. Everything from the elimination of the existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well.
A convergence point for three separate counties in the state of Colorado, Littleton is the county seat of Arapahoe County and a home to a population of nearly 50,000 people according to recent estimates. Littleton’s beginnings were far more humble, with roots in a defining moment of American history: one of several gold rushes seen across the North American continent in the 19th century.
In 1859, Littleton’s history began as a part of a gold rush taking place in Pike's Peak Country of western Kansas Territory as well as southwestern Nebraska Territory. This particular rush began in July of 1858, lasting roughly until the creation of the Colorado Territory in early 1861. The “rush” lived up to its name, bringing with it an influx of prospectors and fortune-seekers who raided the waterways with their panning supplies and other tools, looking for a source of the precious metal to provide a path to economic freedom.
One particular part of this rush was a man named Richard Sullivan Little, who journeyed out west from New Hampshire to work on irrigation projects as an engineer. After making his original 1859 journey, Little settled in the area which would eventually bear his name, bringing his wife out from New Hampshire a few years later in 1862 and establishing themselves as a presence in the region with a new settlement.
Eventually, Little and some of his neighbors helped construct and found the Rough and Ready Flour Mill in 1867, providing a solid base of economic viability to the burgeoning community, helping it to culminate in nearly 250 local residents by 1890. That March, the town of Littleton was officially incorporated as a community in the state of Colorado.
Into the 20th century, Littleton continued to attract more and more residents and grew larger as a result. It continued to serve as an important local community through to the 1950s and 60s, when its growth eventually landed it to close proximity with facilities of major building supply company Martin Marietta, Inc. which, at that time, provided materials for the construction of aerospace products up to and including the Titan rocket.The Titan II rocket was the vehicle used by National Aeronautics and Space Administration (NASA) in the Gemini manned spaceflight program of the early 1960s, the predecessor program of the Apollo mission series which eventually took American astronauts to the moon.
One notable occurrence in the history of both Littleton and the United States took place in 1961, when Littleton and Bega, Australia partnered as one of the first sister city relationships.
Unfortunately, one of the ways in which Littleton is known to people outside of the local community is due to tragedy. In April of 1999, nearby Columbine High School was the site of a major school shooting, resulting in the loss of 15 lives including the perpetrators, in addition to hundreds of additional injuries and other trauma for students and faculty.
While Columbine’s location is within a ZIP code normally associated with Littleton, the school is actually located in the unincorporated area of Columbine very near Littleton. The tragedy is often observed in the local community as a time of remembrance.
Littleton has a significant percentage of its over-16 population as a part of the workforce, according to data from 2013. Nearly 67% of its citizens over driving age are employed in some form or fashion, with over 40% of those employed working in some form of management. For seniors, Littleton is home to over 50 nearby assisted living facilities and 13 different home care agencies in and around the area, as well as 10 nursing homes and at least one adult day care center.
Median household income for a senior in the Littleton area is just under $40,000 a year, roughly $15,000 higher than the 2018 average according to the Pension Rights Center.
Littleton Lending Limits
16 percent of Littleton’s population is made up of seniors that are at least 65 years old, based on U.S. Census Bureau data. Of Littleton’s senior population, 73 percent (accounting for nearly 4,000 households) are also homeowners as opposed to renters. That means there’s a dedicated community of seniors that call Littleton their long-term home.
Thousands of the senior households in Littleton may be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
Compared with the average home price in Colorado, Littleton’s median home price is $87,000 greater than the rest of the state at $518,388, according to the Zillow Home Value Index. Prices in the area have increased 7.7 percent over the past year, and Zillow projects that they will continue to rise over 10 percent over the course of the next year.
The median home value in Littleton, Colorado, is $402,667 -an increase of 6.9 percent in the last year. Home values are projected to rise another 4.4 percent in 2018. Even with the predicted rise in home values, many Littleton, Colorado homes are still well within the bounds of the federal reverse mortgage lending limit of $765,600.
Some homes in Littleton may be worth more than this median value. If your home has been appraised for more than the HECM lending limit of $822,375, you may still be able to tap into your home equity with the help of a reverse mortgage.
If you're a homeowner who fits this description and you're interested in using a reverse mortgage to supplement your retirement, you might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you otherwise would with a FHA-insured HECM loan.
Reverse mortgages might not be the perfect solution for every homeowner, but depending on your particular situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Littleton or are planning to move there, All Reverse Mortgage is here to answer your questions. Call us Toll Free (800) 565-1722.
Top Colorado Lender Resource Links:
Reversemortgage.org NRMLA Members in Colorado: https://www.reversemortgage.org/Find-a-Lender/state/CO
HUD.GOV Approved Lenders in Colorado for HECM Loan
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Littleton homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 3.06% (4.06% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 2.4% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Littleton, CO lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|